Investors - JANUARY 8, 2013

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Security Properties holds final close for first fund

by Sara Kassabian

Seattle-based Security Properties has held a $20 million final close for its debut fund, Security Properties Multifamily Fund. The fund invests in apartment properties.

“The fund offers investors a mix of strategies and markets,” says Ed McGovern, managing director of capital markets at Security Properties. “This mix of strategies allowed us to create a blend of risk profiles, which when combined into a portfolio offered the potential for balanced returns.” He notes that the fund's objective is to create a pool of moderately leveraged real assets diversified across different markets and property vintages “to provide investors with exposure to a diversity of multifamily investment strategies, including opportunistic strategies, value-add and core-plus, in existing properties.”

Security Properties Multifamily Fund, which launched in June 2011, will have deployed

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